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Dollar EXACTLY on Target as Predicted!
And the SPY is attempting to adjust for this latest move down. #dxy #dollar #spy #stocks #cpi #inflation
With this most recent CPI data, the market is anticipating a continued pause.
CPI y/y: 3.0%
CPI m/m: 0.2%
Core y/y: 4.8%
Core m/m: 0.2%
It is always amazing to see properly researched TA play out as it indicates it will. In this case, the target seems to be following precisely the previously drawn arrows. Now, we will be testing that neckline on our H&S pattern again. My expectation is that we may incur another slight bounce there before finally breaking our long-held strong support, that neckline. Continued pause by the FED could help the dollar incur this crash. Inflation will be on and the stocks will continue the blow-off top I have been predicting for over a year! Take advantage of this dollar weakness for the intermediate time because once the dollar disintegrates to a certain point of future unknown weakness, the market will absorb the gravity of our economic predicament and could turn down, dropping fast and hard.
We have some time before the latter occurs in my view (if it occurs) but only so much. Remain alert or follow me and I will attempt to keep you all up to date on the broader economic outlooks from the charts.
Remember, this all helps us to make better trades in both the stock market and in crypto!
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